Facebook TV is coming this summer, report says

Whether in-house or not, one can agree that television is where all the money is right now. Hope has run multiple production companies and produced some of the most critically acclaimed films of the last two decades. On the other hand, there will be shorter shows (5 to 10-minutes-long) that "refreshes every 24 hours" and are easily digestible. The content will include both scripted and unscripted shows. The social network already has 4,500 people around the world working on this, he added.

Facebook have tapped CollegeHumor co-founder Ricky Van Veen and former MTV executive Mina Lefevre to spearhead the efforts.

Facebook considers scripted video in high-quality programming as a vital tool that can help in retaining users.

This initiative is also describing that Facebook isn't competing with traditional TV.

One show Facebook has greenlit is a virtual reality dating show from Condé Nast Entertainment in which people go on first dates in VR before they meet in real life, according to one person who asked not to be named because the discussions are private. Other shows may feature A-list celebrities, too, with one major star already contracted in a deal.

Groupon, Inc. (GRPN) Closed at $3.43
Quadrature Capital Ltd purchased a new position in shares of Groupon during the third quarter valued at about $492,000. The company's last traded volume of 14.86 million shares was above it's an average volume of 10.49 million shares.

It is no secret that Facebook has been attempting to get into the TV game.

If Facebook really enters the field, it will have compete with a number of well-established players like Hulu, Netflix and Amazon, Verizon, Snapchat, as well as rival social-networking platform Twitter Inc. Further, this sort of content will allow Facebook to heavily target Snapchat's user base, continuing Facebook's long standing obsession with Snapchat.

Facebook is also focusing on producing more teen-centric shows apart from the range of content that the company has planned for.

While the new team is expected to speed up some of the bottleneck that results in the gap between reporting content and that content being taken down, Facebook said it will continue to work with authorities and also continue to invest in new technology.

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